Needham & Company LLC Reiterates Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a report published on Monday, Benzinga reports. The firm currently has a $26.00 price objective on the stock.

PHAT has been the subject of a number of other research reports. HC Wainwright reaffirmed a buy rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, May 10th. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research report on Friday, May 3rd. They issued a buy rating and a $24.00 target price for the company.

Read Our Latest Report on PHAT

Phathom Pharmaceuticals Stock Up 8.3 %

Shares of Phathom Pharmaceuticals stock opened at $11.32 on Monday. The stock has a market capitalization of $662.62 million, a price-to-earnings ratio of -2.57 and a beta of 0.68. The company has a 50-day simple moving average of $10.54 and a two-hundred day simple moving average of $9.49. Phathom Pharmaceuticals has a twelve month low of $6.07 and a twelve month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.01. The company had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.76 million. On average, sell-side analysts anticipate that Phathom Pharmaceuticals will post -5.57 earnings per share for the current fiscal year.

Institutional Trading of Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of PHAT. China Universal Asset Management Co. Ltd. raised its holdings in Phathom Pharmaceuticals by 355.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after buying an additional 5,171 shares during the last quarter. DAVENPORT & Co LLC bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth $91,000. Public Employees Retirement System of Ohio bought a new stake in Phathom Pharmaceuticals during the 3rd quarter valued at $92,000. Klingman & Associates LLC bought a new position in shares of Phathom Pharmaceuticals in the first quarter valued at $110,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Phathom Pharmaceuticals during the first quarter valued at about $119,000. 99.01% of the stock is owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

(Get Free Report)

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.

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